Ready to pay less than $2 for a gallon of gasoline?

An analyst is predicting Michigan motorists might see less than $2 a gallon gasoline prices in a few months.

Credit Steve Carmody / Michigan Radio

Patrick DeHaan is with GasBuddy.com. He says a glut of oil is pushing gasoline prices lower.

“It’s tough to nail down the exact timing of sub-two dollar a gallon prices,” admits DeHaan. “But I wouldn’t be surprised if the first stations in Michigan started going under two dollars by some point in October.”

DeHaan expects the usual Labor Day weekend price spike will be a small one.

Federal regulators plan to mix more renewable fuel into gasoline over the next few years, but it’s a whole lot less than Congress wanted.

In 2007, Congress passed a law to increase biofuels. It was part of an effort to lower greenhouse gas emission and dependence on foreign oil and boost the renewable fuel industry. The law set mandates for how much renewable fuel is produced and mixed into gasoline.